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Robbins LLP Encourages SoundHound AI Stockholders to Act

Overview

Robbins LLP, a law firm renowned for its commitment to shareholder rights, has reached out to stockholders of SoundHound AI, Inc. (NASDAQ: SOUN) regarding a significant class action that has been initiated. This action is in connection with an array of allegations that highlight potential shortcomings in the company’s financial reporting and corporate controls. The firm's primary goal is to aid those affected by certain actions or inactions of the company during a designated timeframe, specifically from May 10, 2024, to March 3, 2025.

Class Action Details

The class action lawsuit arises from serious allegations against SoundHound AI, a firm that specializes in developing artificial intelligence technology for voice-based applications. During the specified period, it was asserted that the company failed to adequately inform shareholders about critical internal control weaknesses that were impacting its corporate acquisitions. These control issues, as cited in the class action, included:
1. Material Weaknesses: SoundHound reportedly had significant deficiencies in its controls over financial reporting, which hindered its ability to properly account for corporate acquisitions.
2. Overstated Remediation Efforts: The company allegedly misrepresented both the extent of, and its capability for, overcoming its internal control weaknesses.
3. Inflated Goodwill: It was suggested that the reported goodwill following the Amelia acquisition was overstated and would necessitate subsequent correction.
4. Accounting Delays: The complexities surrounding the SYNQ3 and Amelia acquisitions were cited as reasons for expected delays in filing necessary financial documents with the SEC.

On March 4, 2025, SoundHound disclosed complications regarding its timeliness in filing its Annual Report for 2024. This announcement caused a notable dip in share price, reflecting the market's reaction to these revelations.

Potential Impact on Shareholders

For stockholders looking to understand their rights and options in the wake of these developments, Robbins LLP is facilitating avenues for participation in the class action. If you purchased SoundHound AI securities during the specified period, you may be eligible not only to join the case but potentially also serve as a lead plaintiff. A lead plaintiff acts on behalf of the entire class, directing the litigation process.

Steps for Participation

To explore your options in more detail, affected shareholders are encouraged to:

• - Contact Robbins LLP: Stakeholders can reach out via a submission form, email Attorney Aaron Dumas, Jr., or call 800-350-6003 for detailed information.
• - Understand Legal Representation: All representation is provided on a contingency fee basis; thus, shareholders incur no upfront costs.

About Robbins LLP

As a recognized leader in shareholder rights litigation since 2002, Robbins LLP is dedicated to helping shareholders reclaim losses and enhance corporate governance. The firm boasts extensive experience in holding companies accountable for their actions and ensuring that investor rights are protected.

Conclusion

The implications of the class action against SoundHound AI are significant not only for existing stockholders but also for the broader investment community keen on maintaining transparency and accountability among publicly traded companies. Signing up for alerts regarding any developments in this class action case and similar corporate misconduct is advisable.
For those interested, there are available resources through Robbins LLP that can further assist in clarifying your position and rights as a stockholder.

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For additional updates and to monitor the outcome of this case, interested parties can enroll in Robbins LLP's Stock Watch service. Stay informed about potential recoveries and about securing the accountability that shareholders deserve.